Hi there, what sort of product(s) & business are you involved with? KPIs can vary greatly depending on your company so the model is very much dependant on what you need to track. What are your main KPIs for your products?
As you will know, there’s a very wide range of ways that features can have an impact. Very roughly, we’ve seen the following:
- Some features are “sales facilitators”. What I mean by that is that most companies will have features that don’t get a great deal of usage, but they are absolutely essential in facilitating sales. For example, in more crowded markets, you have to be seen to have a comparable feature set to competitors before you even get looked at. If this is the case, understanding demand from the market and customer base is essential and a KPI would be related to sales.
- There are always features that increase usage - how useful that is again depends on what your company tracks as a KPI.
- We often find features that create great upsell opportunities. Again, we (our own product) to understand the impact a feature would have on increasing revenue from our user base.
I’m sure there is a lot more to this! If you can provide a bit more information, I’ll see if I can help further.
The key is having clear, agreed KPIs with the leadership team then working out a strong process for measuring and reporting them back internally.
Would be good to hear how you get on. Good luck!
The original Quora post can be found here.